KNOWLEDGE AS INVESTMENT IN HUMAN RESOURCES TO INCREASE THE COMPANY SUCCESS

Oriana Helena NEGULESCU

Abstract


In this era, characterized by rapid changes in information and communication technologies and the increasing competition on the global market, the main factor of strategic development of the modern successful company is the development of strategic resources. The most important strategic resource is the people’s expertise that is bringing competitive advantage to the company. The employees’ knowledge accumulation is probably the main tool the management has to consider in designing strategies for company’s growth. However, the employees’ knowledge is contributing to the knowledge based company, as a factor of success. This paper is aiming to emphasize the main concepts regarding the knowledge based company, the profile of a knowledge based company, the importance of employees’ knowledge accumulation for the company’s development and to consider the knowledge as being an investment by training. The return of investment in human resources knowledge is finally analyzed.

Keywords


strategic resources, knowledge based company, investment in human resources, return on investment

Full Text:

PDF

References


Hârtu, C., Simularea strategiilor de creştere economică (Bucureşti: Editura Pacifica, 1995), p. 56.

Cavell, S., Knowing and Acknowledging, Must We Mean What We Say? (Cambridge University Press, 2002), pp. 238-266.

Nonaka, I. and Takeichi, H., The Knowledge-creating company: How Japanese companies create the dynamics of innovation (Oxford University Press, UK, 1995).

Drucker, P. F., “From Capitalism to Knowledge Society”, in The Knowledge Economy, Ed. D. Neef (Butterworth-Heinemann, Boston, 1998).

Howitt, P., “On Some Problems in Measuring Knowledge-Based Growth”, in The Knowledge Economy, Ed. D. Neef (Butterworth-Heinemann, Boston, 1998).

Stevens, C., “The Knowledge-Driven Economy”, in The Knowledge Economy, Ed. D. Neef (Butterworth-Heinemann, Boston, 1998).

Burton-Jones, A., Knowledge capitalism. Business, work, and learning in the new economy, part 3 (Oxford Scholarship Online, 1999), pp. 167-169.

Bartel, A., “Training, wage growth and job performance: evidence from a company database”, Journal of Labor Economics, Vol. 13 (1995).

Doval, E., ”Organization’s competitive advantages related to societal knowledge management”, Analele Universitatii Oradea, Seria: Stiinte economice, Tom XVII No. 1/2008, pp. 208-214.

Doval, E., “Changing the strategy: learning or knowledge based organization”, Review of General Management, ISSN 1841-818x, Vol. 20, iss. 2, pp. 138-149 (2014).

Fuchs, C., “Knowledge management in self-organizing social systems”, Journal of Knowledge Management Practice (May 2004).

Nicolescu, O., “The specific of knowledge based strategies”, Review of General Management (Volume 14, Issue 2, Year 2011), pp. 36-55.

Nonaka, I., ”The knowledge-creating company”, in Harvard Business Review on Knowledge Management, (USA, 1998), pp. 21-45.

Scarso, E & Bolisani, E., “Knowledge-Based Strategies for Knowledge Intensive Business Services: a multiple case study of computer service companies”, Electronic Journal of Knowledge Management, Volume 8, Issue 1 (2010), pp. 151-160.

Tocan, M.C., “Knowledge Based Strategies for Knowledge Based Organizations”, Journal of Knowledge Management, Economics and Information Technology, Issue 6, December 2012, website article, http://www.scientific-papers.org/wp-content/files/1324_Madalina_TOCAN_Knowledge_based_ strategies_for_knowledge_based_organizations.pdf.

Zach, M.H., ”Rethinking the Knowledge-Based Organization”, MITSloan Management Review, July 15, 2003, http://sloanreview.-mit.edu/article/rethinking-the-knowledgebased-organization/.

Lynch, L.M., Employer-provided Training in the Manufacturing Sector: First Results from the United States, paper presented at the World Bank Conference on “Enterprise Training Strategies and Productivity”, Washington, DC, June, cited in The knowledge-based economy, Organization for economic co-operation and development, Paris, 1996.

Benjamin, T. (2016), What is a return on investment in human resources? Website article, Small Business, http://smallbusiness.chron.com/return-investment-human-resources-45590.html.

Gogoforth, R.R. (2010), Knowledge-Based Industries and Investment, Capital Formation Institute, Inc., website article, http://www.cfi-institute.org/VP%20-%20Knowledge-Based%20Industries%20and%-20Investment%20-%20Goforth.html.

Kotelnikov, V. (2016), Knowledge-based Enterprise. Knowledge Management as a Key to Sustainable Competitive Advantage, website article, http://www.1000ventures.com/business_guide/-crosscuttings/knowledge_based_-enterprise.html.

Neagu, C.D. (2009), Knowledge based organization. An identification model, website article, http://www.cs.kau.se/IFIP-summer school/summerschool2009/IFIP2007POST/papers/S10_P1_Denisa_Neagu.pdf.

Rhodine, S. (2015), Building the Knowledge-Based Enterprise, website article, Dec., 3, 2015, Supply Chain Learning Center, http://www.sdcexec.com/article/12135461/building-the-knowledge-based-enterprise.

Tyagi, S. (2015), Training is an investment in knowledge capital, 11 May 2015, website article, Linkedin, https://www.linkedin.com/pulse/training-investment-knowledge-capital.

Trewin, D. (2002), Discussion Paper: Measuring a Knowledge-based Economy and Society - An Australian Framework, 1375.0, Australian Bureau of Statistics (ABS), Canberra, http://www.abs.gov.au/ausstats/abs@.nsf/.

Wilson, N. & Wright, M. (2015), The Equity Gap and Knowledge-based Firms: Executive Summary, July 8, 2015, website article, p. 2-3, https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/442573/Equity_gap_report_exec_summary_030715_final.pdf.




DOI: https://doi.org/10.26458/1643

Copyright (c) 2016 Oriana Helena Negulescu

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

In order to comply with GDPR, this site does not allow free registration. Please contact us at: ashues@spiruharet.ro. 

GDPR Policy:

Please read the statement below:
Processing of personal data and free movement of these data

Registering with this site the author agree with the collection, processing and use of his personal data, exclusively within the ASHUES journal.

 

AWARDS 

WILL BE CONFERRED AT THE END OF THE YEAR

To crown and encourage research efforts of the authors, at the end of a year of publishing our journal board will award online the best papers by distinctions:

1. Best Original Paper Award -  for the paper that has brought something completely new in the reader's attention (a new concept, a new trend, a new proposal in research, etc.)

2. Excellence Award - for the most cited paper and visualized in the online environment during the year

3. First, Second and Third Award- for the best documented and substantiated papers during the year

4. Special Award - to award PhD students and postdocs for the most well documented and substantiated paper